Corn futures are trading steady to a penny lower this morning. They posted fractional to 4 1/4 cent gains in most contracts on Thursday. The USDA reported 371,981 MT for old crop weekly export sales, just half of estimates and well below this time last year. New crop sales were a supportive 474,577 MT. Total export commitments are down 6.3% from a year ago, when importers were buying in anticipation of a smaller South American crop. In a tender on Wednesday a South Korean importer purchased 60,000 MT of US corn. Analysts with ProAgro estimate Ukraine’s 2019 corn crop at 31.2 MMT, down 4.4 MMT from the year prior. China is rumored to be picking up additional US sorghum cargos.

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice, and is delayed per exchange requirements.For Terms of Use, Privacy Policy and Exchange Delays, click here.